Fund Objective

The Invesco Perpetual Japanese Smaller Companies Fund aims to achieve capital growth

View on Past Performance

Japanese equities were dominated by the extraordinary events in the US, including the collapse of Lehman Brothers, and both the Nikkei 225 index and the broader-based Topix hit their lowest levels for more than three years. Over the month, they closed 9.9% and 9.3% lower (£, price only) respectively.Renewed concerns surrounding global financial sectors saw the Bank of Japan inject trillions of yen into the financial system in an effort to support liquidity and, as expected, they also held interest rates at 0.5%. Although largely overshadowed by global events, domestic economic news saw export growth decline markedly in August, to 0.3%, as US demand experienced its largest ever fall and core inflation was unchanged in August at 2.4%.Political instability was also a feature, as Prime Minister Yasuo Fukuda resigned at the beginning of the month, in an effort to break political deadlock, to be replaced by Taro Aso.

Fund Details